745130
You'll need to sign in or create an account to connect with an expert.
Thank you for your reply. From the information you provided entering the amount from your 1099-MISC for intangible drilling cost on Schedule C on LINE 27a "Other Expenses" is appropriate.
I buy the BUSINESS (DISC) version for my “non-oil/gas” S-Corp and use the “PREMIER” (DISC) version for personal with ROYALTY income.
Thanks for the response on the “intangible drilling cost” on line 27a. I would take the “tangible drilling cost” but I’m not confident that I could figure out the depreciation section.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
msislamnre
New Member
vtdreher
New Member
ProfDude
Level 1
mschipani87
New Member
Frank Scales
New Member